thechartpatterntrader
New member
TSP Brothers and Sisters,
The C Fund is broke out of the a Falling Wedge pattern on the 60 minute chart, which is the SP 500 chart. Now I think we may back test that breakout as the 60 minute chart needs a chance to reset. The Daily chart just had a MACD breakout that may give us a bounce back to resistance once the 60 minute charts have a short term reaction back to support. the bounce could likely be a short term contra-trend.
60 Minute Chart of the SP 500:
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=6&id=p13943801754&a=84656486
The Chart Pattern Trader
The C Fund is broke out of the a Falling Wedge pattern on the 60 minute chart, which is the SP 500 chart. Now I think we may back test that breakout as the 60 minute chart needs a chance to reset. The Daily chart just had a MACD breakout that may give us a bounce back to resistance once the 60 minute charts have a short term reaction back to support. the bounce could likely be a short term contra-trend.
60 Minute Chart of the SP 500:
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=6&id=p13943801754&a=84656486
The Chart Pattern Trader
